Tech Cities Of The Future: Moscow Ranks Top 10 For Start-Ups, In Top 20 For Tech Development

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Moscow has been ranked the best city for entrepreneurs to start up, and 18th in Europe in terms of Tech Development. The Tech Cities of the Future ranking, compiled for the first time by fDi Intelligence magazine – part of the Financial Times Group – together with The Next Web (TNW) tech innovation website, rated 76 cities to find out which ones are the best for tech development. London won top billing, followed by Paris and Dublin, all of which offered compelling prospects for innovators and startups. Amsterdam and Berlin completed the top five.

Apart from taking 18th place in the overall ranking, Moscow also made it into the ninth place in the “Cities with the best startup environments” category. The Russian capital provides a wide range of opportunities for startup enterprises, according to Alexey Fursin, who heads the Entrepreneurship and Innovation Development Department of Moscow. For example, the local government has recently launched a project called ‘Moscow Accelerator,’ which allows new enterprises to cooperate with larger companies and get more investment to scale up their businesses.

In May, the Russian capital climbed to ninth place in the global startup ecosystem ranking of 1,000 cities compiled by StartupBlink. The researchers noted that the city has huge potential for research and development in AI and Big Data, calling it “a center of creativity in Europe.”

To create a shortlist for fDi and TNW Tech Cities of the Future 2020/21, the fDi Intelligence division of the Financial Times collected data using the specialist online FDI tools – fDi Benchmark and fDiMarkets as well as other sources.

Data was collected for 76 locations, under five categories: Economic Potential, Innovation and Attractiveness, FDI Performance, Cost Effectiveness and Start-up Environment.

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